Some marketers are afraid of data, so they focus on the low-hanging fruit such as total page views, Twitter followers, or other “fluffy” numbers. Click-throughs and blog views are nice, but do they impact revenue? The most effective marketers are the ones who collect actionable data. How can you be more actionable with your analytics? Start with the “so what?” question. When you frame decisions through “so what?” you can begin to dig deeper into analytics. Here are five ways to get the most out of marketing analytics.
1. Stop relying solely on gut instincts. Many marketers say they rely on intuition to make decisions. If you can’t measure outcomes of your decisions, you’re more likely to repeat mistakes. Strategic use of Google Analytics lets you put numbers behind your marketing campaigns, so you can make decisions from data that is measurable and actionable.
2. Do your homework. There are plenty of resources to walk you through the basics of UTM parameters, conversion goals and traffic channels. Although it takes more effort to set up individual campaign tracking in Google Analytics, it’s worth it when actionable data starts pouring in.
3. Focus on what customers are doing. Use Google Analytics to better understand customer behavior. Track customer paths and run behavior reports to find out what people are doing on your website. Evaluate drop-off points to determine where customers might be getting confused or frustrated. A/B testing is critical to becoming a data-minded marketer. Don’t miss this opportunity to collect real data and improve customers’ experiences.
4. Be consistent with your analysis. Analyze past data to make smart predictions about future campaigns. Even though analysis is time-consuming, making the effort is valuable. Using analytics to improve marketing campaigns can save time — and increase revenue — in the long run.
5. Assign real dollar values. Do you track ROI on your campaigns? This might be the most important number you can track. When you calculate values for customer actions, you can calculate ROI. This makes it much easier to prove the success of your marketing campaigns.